Earlier this year New York State created a new optional Pass-Through Entity Tax which can allow owners of pass-through entities (such as LLCs or S Corporations) to pay an entity level tax to cover the state tax liability of its owners. The tax paid by the entity is...
IRS Releases Tax Brackets and Other Key Limits for 2024
IRS to Pause Employee Retention Credit (ERC) Claims – What’s Next for the IRS and for Employers?
Demystifying the Corporate Transparency Act: A Guide for Businesses
Combating Payroll Tax Evasion and Workers’ Compensation Fraud in the Construction Industry
30 Years of Connecting with Cerini & Associates, LLP
Employee Retention Tax Credit (ERC) Updates
Cerini Connection: Artificial Intelligence and How to Leverage it
New York State’s Minimum Wage Increases and Indexing to Inflation
2023 Business Trends
Are Bonuses Really Taxed Higher?
IRS Extends Tax Deadline to May 17th, 2021 for individuals
Mar 18, 2021
The IRS announced on March 17, 2021 an extension of the INDIVIDUAL tax filing deadline from April 15th, 2021 to May 17th, 2021. This extension comes on the eve of IRS Commissioner Rettig testifying before congress regarding the 2021 filing season and after several...
“Additional Coronavirus Response and Relief” Package – Stimulus for Businesses and Nonprofits
Jan 7, 2021
Included in the recently passed and signed 2021 annual appropriations bill was a myriad of various COVID-19 stimulus and relief provisions.
Press Release: Cerini & Associates, LLP Partner Promotions 2021
Jan 4, 2021
FOR IMMEDIATE RELEASE Contact:Kelli-Anne Cerini Marketing Coordinator Cerini & Associates, LLP P: 631-582-1600 ext. 401 E: [email protected] January 04, 2021 – Bohemia, NY – Cerini & Associates, LLP, a leading audit, tax, and business advisory firm...
IRS Issues Crucial New Guidance on Deduction of PPP Expenses
Nov 19, 2020
Following up on Notice 2020-32 issued in May 2020, the IRS has released Revenue Ruling 2020-27 & Revenue Procedure 2050-51 to provide guidance to taxpayers in relation to deductions for expenses covered by the Paycheck Protection Program (PPP) loans.
SBA Necessity Questionnaire Released for Borrowers with PPP Loans Over $2,000,000
Oct 30, 2020
In what is likely the first step in the audit process for borrowers that received Paycheck Protection Program (PPP) loans more than $2,000,000 (including affiliates), the SBA has developed a questionnaire for both for-profit and non-profit borrowers which was released...
HHS Announced Phase 3 of General Distribution Funding
Oct 5, 2020
As part of the ongoing efforts to assist healthcare providers, the Department of Health and Human Services (HHS) announced on October 1st, 2020 the “Phase 3” of the Provider Relief Fund. Phase 3 releases another $20 Billion of HHS Stimulus funding for providers to...
Partial Plan Terminations: What Employers and Plan Sponsors Should Know
Sep 24, 2020
The COVID-19 pandemic has brought so many different concerns to the forefront for employers, whether it be business owners or executive directors, such as PPP Loans, SBA EIDL loans, CARES Act tax credits, unemployment insurance reimbursements and frankly, just keeping...
Payroll Tax Deferral Guidance
Sep 1, 2020
On Friday evening, August 28th, 2020, the IRS and Department of the Treasury released Notice 2020-65 providing brief guidance as it relates to the August 8th, 2020 executive order allowing for a potential employee payroll tax deferral. Executive Order Deferring...